President Alhaji Dr Yahya Jammeh, has disclosed that 15 more commercial banks have applied for operational licence with the Central Bank of The Gambia, to participate in the country's fast growing financial sector.
The president attributed this rare development to the breakthrough in the energy sector, which has been revamped in the past three years.

The Gambian leader made this revelation in an interview with journalists, at the Banjul International Airport, yesterday afternoon, upon his return from the Ecowas Heads of State Summit in Abuja, Nigeria.

According to Dr Jammeh, since the breakthrough in the energy sector, nine banks have been added to the list of commercial banks in the country within a short period of 36 months. Without tackling the energy crisis, he went on, the realisation of any meaningful foreign direct investment will remain elusive.

Opportunities

The president was of the firm conviction that the Ecowas sub-region has enough opportunities to refocus on issues of immediate concern, such as food security and energy crises, after a turbulent history of civil conflicts.

He pointed to the Ivorian crisis as the remaining one, which according to him, cannot be completely resolved until there is a credible election, endorsed by all parties.

"It is [after that that] we can say we have completely resolved the problem. But realistic opportunities [for the subregion] exist," the president told journalists.

The agenda

On the Ecowas Summit, President Jammeh revealed that the event centered on specific issues, as the sub-regional body was dealing with many issues without prioritisation.

"Now, priorities center on food security and energy crises", he said.

Integration

Dr Jammeh used the opportunity to renew his call for Africans to integrate, maintaining that this is the only way forward for the African continent.

He added "If we [Africans] start looking inwards, we will be able to see our problems and potentials. We will then harnest our resources and energy to solve problems, just as Africa was developed before the coming of the white man".